vaccine in europe will proceed. very good news for europe. very good news for johnson & johnson. the stock is up 2 1/2%. you have a $4 gain at 166. it is going up as we speak. good news for j&j. good news for europe. time is up for me but kneel, it is yours. neil: stuart, thank you very much. it has been a tough days for bulls in this market. the selling continues despite an earnings trend going way beyond expectations of companies that have reported. earnings out formed 2 to 30%. the average is 7 to 8%. not earnings that are unnerving these guys. go to jackie deangelis on what might be. reporter: good afternoon to you, neil. the markets weak down about 300 points. the earnings are strong but reopening stocks are hitting markets like airlines and cruise lines, american airlines fell 6% while united dropped more than

8%. carnival, norwegian cruise line, royal caribbean they traded 4% lower. part of this reopening issue is all about vaccines. the rollout is going well and you know here in the u.s. internationally as well, people are starting to resume their daily activities. they can get back to work but it is taking some time. on the vaccine front of course the eu regulators, they're finding, talking about this possible blood clot link with the j&j vaccine as you heard stuart say they will put a warning on it and proceed forward. j&j when it reported its earnings talked about the fact that this issue should be resolved as early as possibly on friday. so that is good news. now on the earnings front so far more than 80% of the s&p 500 companies have beat their revenue and eps targets. some people, pardon me, some notable companies have beat on top and bottom line. include dow components, ibm,

proctor & gamble and travelers. a word of caution from proctor & gamble and gamble, this is important, the numbers were good but the company says it is raising prices. kimberly clark said it would do it last month. these are consumer staples, make things we need like diapers, razors, detergent. this afternoon we'll hear from netflix because that is important the streaming giant the one to watch. netflix hit it out of the park because of pandemic lockdowns, but are states reopening did people ditch streaming going out to do stuff? we'll see what they say, neil. what happens with these companies, how quickly we reopen and how quickly people get shots in the arm. >> well-put. thank you very much for that, jackie deangelis on that. once again as she intimated here the problem seems to be the virus and its slow spread across the planet particularly places like india, brazil and this list. we'll get into later this the show the state department

recommending not really talf if we don't really have to. 80% of the countries on the planet, united kingdom, all of ireland, norway, denmark what did they ever do, norway and denmark? come on. pretty much worldwide, eight out of 10 countries say don't travel. now they could reciprocate on that saying don't go to the united states. we're not at that point. reminder this is a worry, a nagging one for the markets would rather see this past us sooner rather than later even though we're making great progress with vaccines. 200 million americans have had one or two doses. we're well on the way, what is it the herd immunity they hoped for? some states are having bumpy rides in that process. get the read from rebecca walser, walser wealth management, jonathan hoenig, capitalist pig hedge fund manager. rebecca, if i could begin with you, also we have luke lloyd.

i apologize, luke. >> you're good. neil: i did not mean to ostracize you, luke. to make up i will begin with you, how is that? >> here we go. neil: good economic news, good earnings news but still worrisome virus news, not vaccination news, virus news. i'm talking about the globe. i'm talking about even restrictions in the united states against traveling and particularly forethese 80% of countries they advise we not go to at all. is this an annoying worry or excuse to sell? >> i think it is an excuse right now but i think the main worry for the most part is the different strains of the virus, uncertainty around all of that. we don't know if vaccine will work properly. we don't know what the future holds. we only control so much in the united states with our politics. we can't control other countries. with regards to the u.s., things are looking really good. i'm optimistic with the reopening of the economy. some states are still shut down. top 12 states shut down, account for 40% of unemployment.

once that gets fixed i think economy will get so hot like something you never seen before. in regards to the u.s., we have to stick to u.s. domestic stocks. overall we're looking bullish for the next coming years. neil: what do you think of that, rebecca? bullish argument, maybe people with all the better-than-expected earnings news, all good guidance we're getting, using what is happening with the virus in some countries as an excuse to sort of take some profits? >> yeah. i think that is true, neil. i think what happened, we had so much stimulus the market got overheated last year. thank god we didn't get a depression. investors are looking at earnings season and saying are these stocks actually worth it? some might say, you know what? it's a little overheated, i will take profits, let this settle out, let the volatility come to settle it out. that is actually happen with some people.

even though the earnings season to jackie's point are good so far, people are still saying gosh, are these stocks, we sort of priced in them doing well own the recovery. people are analyzing are we doing well with the reopening and in 2021? neil: you know, jonathan, i always this sentiment can swing. those who pounce on a down day, think it is going to be the correction or start of one often have been proven wrong, in fact most of the time throughout this bull market proven wrong. how do you play a day like today? >> well, neil, the sentiment really has swung. think about the market is up, the dow is up 90% from march of 2020. that said, no one wanted to be in stocks. meanwhile in the last five months, we've had more money come into stocks, that is invested into stocks than in the last 11 years. so to our guests point, markets are forward-looking and a lot of people are anticipating exactly thankfully what america

achieved. i don't want to say dominance over the pandemic. people are getting back to work, the fundamentals have improved. that is the feeling as a contrarian, markets are forward-looking, it is not i'm plausible to be we could get back to work the pandemic could ebb, but the market could sell off even as the fundamental cost an it to inimprove. neil: you know what i noticed, guys, and, luke, i will go back to you, if people are worried about the bond market reflecting inflation pressures it has not happened. what do you make of that? >> etf been talking about the inflation over the past 10 years, 20 years, it still hasn't happened. concern from all the stimulus we're printing off? i think it is a concern 10 years down the road, how long will it take for inflation to hit for it to work, for the trade to work out in the bond market? overall one thing i want to add for the stimulus and outlook for the economy in regards to the markets if we get a worse off scenario in the economy or u.s.

for covid, we'll print more stimulus. that has been the story over the past year. democrats love printing money. if things take a turn for the worse, that will continue to inflate the market. so i think it is, winners win. good is good. if it is bad it is good. that is the scenario we're in now until next year from that outlook. neil: you know, rebecca, it has been crazy times for cryptocurrencies and you know, venmo announcing it will make it easy for to you buy and sell these digital currency plays. i'm wondering though, the fact that so many countries are piling on to come up with their own digital currency, i could see that hurting the dollar but this is the first time it is hurting bitcoin. what do you make of that? >> yeah, neil this, is 100% where the new battle is going to happen. i will tell you all cryptocurrency believers, i'm not against cryptocurrency, i

will tell you once it becomes mainstream what we're seeing now, the united states treasury and the u.s. government are going to do something because the dollar is the u.s. world reserve currency, once it becomes mainstream, we start using it as a currency, not an investment, that means buying tesla and bitcoin, for example, and a lot of other things that are saying it takes bitcoin. when it becomes a currency, watch without, that is are with the governments and central banks of the world, the fed, the ecb, bank of japan are going to have to say what will this do to the m-2 money supply and how we control it? that is very, very important. people forget, neil, in the 1930s, the government told people to turn in their gold because they weren't able to control the money supply with the run on banks because of the great depression. don't think cryptocurrency is the end all be all, because the federal governments much the world will say something, i guarranty that. >> i will jump in quickly say i actually think cryptocurrency,

i'm not a hater but i think it is a great leading indicator of really risk writ large. look, cryptocurrency couldn't have existed in 2008, 2009. people didn't want to take any risk. now they have stimulus checks in their pockets. they're willing to take a risk on penny stocks on crypto, anything else. over the weekend we saw crypto start to ditch. we've seen markets dip today, a little bit this week. keep an eye on crypto. i think it is the canary in the coal mine, if you will, if the markets really start to take a dip. neil: you know, luke, i'm of the opinion, don't put any money on it, in fact run away, that i think it's too late to try to rein bitcoin in. i'm not talking because a number of etfs are waiting on the runway to launch they haven't technically but one in canada is hugely oversubscribed, vehicles, players, marquee street cred

names, tesla, goldman sachs, others is proof you try to untangle this now, good freakin' luck, what do you think? >> the more dogecoin and crypto become higher chance it will be regulated. it is going to be volatile. ups and downs with bitcoin over the next decade no doubt about that with the recent ipo, venmo allowing transactions and merchants accepting bitcoin ininsures bitcoin is real and so much only bitcoin out there. dogecoin going up 40 cents, $50 billion it was a joke. it was made as a joke. when that happens makes everything looks like a bubble right now. the way i look at it, that much speculation is out there, people throwing money into something that is a joke has no fundamental underlying value, nobody wants to transact either i think that is a bullish case for bitcoin in the long term. once the money flows out of joke coins that don't really matter i think more money flows into the

actual dominant coin like bitcoin. i think there is an actual use case the next coming years. i think it is here to stay. i think you want a slice of pie. when regulations come in, dollar-cost-average. >> i will quickly take the other side of the trade. i'm not a hater. oracle is a great example. oracle trade $40 a share in the late 90s. internet is the future you have to own a piece of oracle. internet was the future but oracle took a decade to get above where it is $40 a share. the same thing could happen with bitcoin, maybe not a great long-term hold as much as we think. neil: that is a very good point. thank you very, very much here. as they were wrapping up here we're getting an interesting read on the list of countries deemed too risky to travel to. this comes from the state department. we'll explore it more detail coming up, level four countries interest me. these are ones no debate about it, you go there, you're putting

your life in your hands but includes the bahamas, barbados, belgium, per buddha, canada, mexico, denmark, finland, dominican republic, on and on. imagine the fallout when people who have tickets booked to these countries find out the state department says not a good idea. ♪.

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now! and it's all thanks to sofi. ♪. neil: all right. do not travel to eight out of 10 countries on this planet. 80% of the world's countries, the state department among others say which don't think it's a good idea for to you go there. in fact we might enforce that. david lee miller in new york city. reporter: neil, let's start with this, anyone in the u.s. age 16 or older is now eligible to receive a covid-19 vaccine according to the cdc. about 1/3 of all americans are now fully vaccinated and, more than half have received at least one dose. the cdc also says that airborne transmission of the virus is how

it is most often spread. the risk of catching covid touching a surface, relatively low. soap and detergent can lower the risk, in words of cdc official putting on a show to disinfect an area can give a false sense of security. universities, including columbia, cornell, brown, will require students attending the fall semester to be vaccinated. cdc said despite success vaccinating 3 million people a day the battle against the virus is not over. >> we're in a complicated stage. on one hand more people in the united states are being vaccinated every single day at an accelerated pace. on the other hand, cases and hospitalizations are increasing in some areas of the country and cases among younger people who have not yet been vaccinated are also increasing. reporter: according to the world health organization new cases of covid increased for the 8th week in a row.

as you were just discussing the state department says the virus still poses what it calls unprecedented risks to travelers and is updating its travel advisories. americans are now being warned not to visit 80% of the countries worldwide because of the virus. meanwhile more states are continuing to reopen. here in new york starting next week, movie theater capacity is going to be increased to 33% and museums, aquariums and zoos will now being permitted up to 50% capacity. new york once the epicenter of the pandemic is now seeing some of the lowest number of new covid cases since thanksgiving. neil? neil: david lee miller, thank you very much for that, david. to senator roger marshall of kansas. he is a senator but a physician by training. so we get a you know, a double bang for the buck. senator, thank you very much for joining us. do you know, sir, on the state department guidelines whether

they are a friendly suggestion, advisory or something more demanding? >> well, neil, i think it is too early to tell. i think we're kind of getting ahead of our skis. we don't even have herd immunity in this nation right now before we start worrying about the rest of the world. it is certainly not safe to go out yet, certainly not safe to go outside of country. we need to focus on getting vaccines in peoples arms so we achieve the herd immunity here in the united states. neil: how far away do you think we are from that? because some states are reporting enormous progress. vaccinations have gone out or advisory gone out to all adults at least those 16 and over in most states. how do you think we're doing? >> neil, i think we're doing great but now we're seeing vaccine hesitancy going on. we've been out in the countryside visiting with kansans saying why won't you get the vaccine and one of the reasons they won't get it they feel like they're tied to this

mask thing. we're not being rewarded for getting the vaccine. we should get rid of masks. as long as dr. fauci preaches we have to keep the masks on forever, that is ball and chain insulting our individual freedoms. kansans are frustrated with the whole process. so vaccine hesitancy will be holding us up now, not the lack, not number of vaccines available. neil: you know in the middle of all of this, you're a doctor, i will defer to your expertise on this senator, the cdc has already put out, you know, the sort of an acknowledgement even though you get the vaccine, doesn't mean in the interim period you could contract the virus, 6,000 americans have. still a small number of thehundred million americans who have gotten at least one dose of the vaccine. what do you make of these 6,000 who have actually gotten the virus after getting the vaccine? >> it is a miracle. it is a miracle only 6,000 people out of what 130 some

million of people got the virus. more importantly, none of those people had to be hospitalized or have died to my knowledge. so the vaccine works and, really, it really renders this covid virus as harmless as the seasonal flu, maybe even a seasonal cold. why i think we can lose the mask mandate now. that the vaccines actually work. i'm not convinced all these other mandates truly have proven to work at this point in time but we know the vaccines work. that is were people need to get their vaccines so they can be as free as they were once before. so you can see your parents, protect your parents, protect your children, protect your grandchildren. i'm pleading with people to go get the vaccine. neil: you know, people who have gotten the vaccine, whether it was before the troubles, it was pulled, j&j one-dose vaccine pfizer moderna, what have you, there has been this sort of superman feeling afterwards where they don't feel compelled

to wear a mask. people who don't know why they're not wearing a mask wonder if this is causing any undo threat to them. what is the medical read on that, doctor? i know your own view on masks but, is it better part of valor for those who have gotten the vaccine to still wear the mask as not to alarm those who don't you know, that you have been treated? >> well, neil, i don't follow that logic too well. the whole purpose of the vaccine was to protect us from getting the virus. there is less than a 5% chance we would carry the virus after we had the vaccine. so really we're approaching herd immunity. certainly there's a small group of people maybe feel comfortable to wear the mask but i don't think they should take away from our freedoms. no more, you shouldn't ask a person to wear a mask because of covid-19 that had the vaccination anymore asking people that had sniffles or seasonal flu. i think it is overreach and treading on my individual

liberties and my individual rights. everybody is tying this control, the control with the mask to the rest, rest of our god given civil rights right now. i think the mask thing has got to go. you need freedom to stop wearing masks after you had the vaccine. neil: what about the freedom to ignore some recommendations that have been popping up, senator, that we might have to get booster shots for this vaccine or very least, treat it as we dot-com mon flu, get a vaccine or covid shot every year, how do you feel that? >> i think again we're getting out in front of our skis. i can understand the theory of it, much like the flu we get every year. the flu shot is they try to predict the flu that will hit the country side. like this, maybe new strains will develop. that is why we need research of china. we need to go back to the bad studies on this virus to predict how it mutates and what we need

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♪. >> we've got to get more active. we've got to get more confrontational. we've got to make sure that they know that we mean business. neil: all right. even the judge in the derek

vaughn case, that being deliberated by the jurors for the second day thought she went too far right there. the fact of the matter is, that those comments have prompted him to say that it could easily lead to an overturning of whatever is done at this trial. let's get the read on all of this from chad pergram, the efforts to go after the congresswoman for those remarks. chad, what are we hearing. >> good afternoon, neil. some congressional democrats were already irritated at the chairwoman of the house financial services committee, maxine waters. moderate democrats were seething after waters' remarks over the weekend urging demonstrates to be confrontational. the defense counsel and judge invoking waters was a bridge too far for some democrats. >> and now that we have u.s. representatives threatening acts of violence and in relation to this specific case it's

mind-boggling to me, judge. >> well, i will give you congresswoman waters may have given you something on appeal that may result in this whole trial being overturned but -- >> house minority leader kevin mccarthy will attempt to get the house to censure waters this week. republicans say democrats only want to accuse the gop of inciting the capitol riot but won't speak out about members on their own side. democrats say republicans have no leg on which to stand. >> so again perhaps kevin mccarthy should sit this one out because he has zero moral standing. clean up your own mess while -- >> house speaker nancy pelosi also raised the ire of some democrats yesterday. pelosi sate waters should not apologize. pelosi doubted waters' comments would spark violence.

neil? neil: i wonder if it has any spillover effect, bipartisan, handling of the infrastructure package of all this, certainly poisons the well. what do you think? >> the well was already pretty poisoned frankly. members of congress tend to look at those type of issues separately. they stay in your own lane. marjorie taylor green or maxine waters they put those together. talking about actual policies, afghanistan, or infrastructure they look at that through a different prism. neil: all right. got it. chad, thank you very, very much. chad pergram in washington on these developments. speaking of things that washington follows very closely, apple has gone ahead and brought back parler, a lot of people call it the more conservative social media site. it is back now with better monitoring we're told but jonathan hoenig isn't quite buying all of this. rejoins now, capitalist pig hedge fund manager. i always find it interesting, whatever your political views that views on the left are generally tolerated and not

punished. views own the right, especially if they're deemed to incite actions or compliment those actions afterwards which was not quite the case with parler, they get a separate treatment but they're back in apple's good graces. i wonder how long? >> certainly everyone in social media that censors we see that on the right but sometimes on the left as well. parler, apple demonstrate there is no monopoly. parler needed to improve its policing, its monitoring. that is not government's rule. that was apple's rule, considering the potential for social media to be involved in all sorts of violence, i think that is a pretty sound idea. so parler changed. they instituted those changes. now they're back. so this is a great example of win-win. neil, the biggest risk to so many large media companies is government. you covered maxine waters. this woman has a lot of sway how these companies literally operated whether they can even exist. so the more this type of

negotiation can happen outside of governments, between companies, the more i think the economy and markets will survive and parler will thrive you will see after this. they cleaned up their act. i think they will thrive as a result. neil: you know i just wonder if those in government hadn't been kicking around the idea of breaking these guys up whether this would have been done at all? >> well, that idea is still very much on the table. josh hawley is very prominent republican. obviously now likened this to the trust busting of the early 1900s. this is an issue, neil, the only person more unpopular than congress probably right now are big media companies, the big tech companies. so they are really public enemy number one for the left and the right. even the fact that parler is back now reinstated by apple, you will not see pressure on technology companies, social media companies and in particular you will not see the pressure or calls for them to be broken up as either. neil: you know, i just wonder,

all of these companies, regardless what you think of them politically, what have you, they are great american success stories, rein them in, break them up for worse. you might be throwing the technology baby out with the bath water here. do you worry about that in terms of recommending these big names that are focus of all of this attention or not? >> well, neil, i mean i don't worry about companies dominance. look at the history. back in the '60s, '70s we were talking about companies like digital. those were the big tech companies of the era. sun microsystems. technology more than any other industry, neil, has a history of innovation that happens in a free market. even 15 or 20 years ago, twitter didn't even exist. it was myspace dominating the social media scene. so you know people choose to use these services. i'm not worried about them. what i am woreried about government getting involved. that -- neil: that is kind of what i meant, jonathan. i'm sorry, my friend. i kind of agree with that

premise here. if there is this pall over all these technology names that the government might be fixing to fix them would that be a reason for you to say, i don't agree with this approach the government's taking but you might want to consider it before pouring money into these stocks? what do you think? >> look at history, neil, after the government filed the antitrust lawsuit against microsoft in the early 2,000s, it was more than a decade before the company retrieved its stock price. you saw other competitors like facebook, google, didn't exist back in the late 90s. that is a real risk for big cap tech moving forward. neil: all right. i was way too young to remember any of that, jonathan but thank you for pointing that out as always, my friend. jonathan hoenig you will hear from him shortly and a lot more. in the meantime here have you noticed what is going on with housing? there is a boom going on. forget about the rocketing price of lumber, all the stuff that

goes into the cost of a home, the fact of the matter, we're having bidding wars, we're coming back, almost at all price points. that is coming back. so if you're in the market for a home, the pressure to move fast or you're going to lose your deal. ♪. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

♪. neil: all right. here is how much lately it has gotten to be a seller's real estate market. homebuyers in the rush to close the deal eschewed things like appraisals, all that nasty stuff, you really should do just to land the property. gerri willis has been following this housing bidding boom, whatever you want to call it because it's real and well, pretty much across the entire country.

gerri? reporter: neil, that's right. i want to show you a $2.2 million property right in new york. this is a toney suburb of new york city. here is the gimmick, the ad right here. take a look at this house. there is shingles. there is a gravel driveway. it really looks like it is in the hamptons, right? so for houses like this, buyers are going nuts, they're doing everything they can to get their house to stand out. why? the market is on fire, as you said, median prices are now $353,000, up 17% year to year. multiple offers are common. in fact you might see 20 to 30 percent on a house super attractive like this one. as a result, sources are telling us that buyers are doing things they have never done before, to really try to get their offer to stand out. they're offering all cash. they're offering over asking,

dropping contingencies like contingencies for inspections and appraisals. why would that matter? appraisals are important because if you offer a really rich price and the appraisal comes in below that, could be on the hook for the difference so very important. they're offering escalator clauses. what is that? basically for a house like this you might offer 25,000 over any other bid along with your offer package. think about that. listen. >> they're doing escalation clauses to beat whatever was the highest offer. they're doing everything and anything they can because most properties are, every single property is getting multiple offers. some of them as many as 20 or 30 offers on each property. reporter: so in new york, buyers are back to having to pick up the transaction tax. the mansion tax. this is a percentage of the total price of the property, that they can add up to 1, 2, 4%

of the total value. they're doing fun things like really soft, sweet things, offering love letters. the kids may offer a letter to the buyers of this house saying how much they love it, writing it in crayon, hoping that encourages a buyer to give it to their mom and dad but as i send it back to you, neil, i want to say, look, this is going to continue. the pressure on these prices to go up, up, is going to be continuing for as long as we're teleworking. back to you. neil: that's amazing. by the way if i'm the seller, nice to get a note from the kid but that 25 thou dollar premium, that may close the deal. thank you very much, gerri willis. jonathan hoenig back with us. john, what do you think, is that a sign of a frothy or a rush that might end badly but what did you make of that? >> gerri is exactly right, almost like real estate stocks, neil. they look like what technology stocks used to look like.

look at today, camden, duke realty, es session, prolodge business, all the -- prologis, real estate investment trusts, itr, real estate investment fund. homebuilding doing enbetter. beazer homes is up 40% year-to-date. a lot of trend working here, neil, one which is the low interest rates, putting a lot of easy money in peoples pockets. as gerri said, the move towards work from home, a large percentage of companies will not bring their employees back anytime soon. the days of mass empty desks, at that will last somewhat longer. people need the room. that is why they're paying up. neil: that is a pretty high-taxed area, that something about the demand of this real

estate boom. thank you, my friend. grady trimble looking at another phenomenon. forget about homes. how about used cars? they're in a boom of their own. what is going on here, grady? reporter: neil, the pandemic drove car sales up because people are not taking public transit as much. then you have the chip shortage which is hugely affecting the auto industry. they're not producing as many new cars so people are turning to new cars. somebody who knows that well, is our friend woody woodring in naperville, illinois. what do you see, prices are going up, people look to buy anything, either new or used, right? >> there is definitely hunger out there. if the dealer has availability, you have a sale. if the customer has a trade he get as pretty good deal. the trades are up in value because of the shortage. the shortage is really good for both parties, consumer around the dealer. reporter: good for you. if you look at the numbers, the price of a average used car up

10% compared to this time last year. that is the biggest jump year-over-year in over a decade. do you think prices will keep going up? there is not really any signs that we'll get back to any sort of normal work schedule heading back to the office every day on the train anyway anytime soon? >> i definitely think at least going through summer, the used car values will continue to go up. it will be hard to develop a inventory. so the shortage is going to put the market value out there. demand will dictate what that car is going to bring. there are no two used cars alike. reporter: you're saying now is a good time to trade in a vehicle because you have one because you're paying top dollar for night definitely. you have a strong demand for the used car. you have a strong demand for the new car. so every new car buyer, you know, doesn't have a trade but people want to buy trades. so being a new car dealer you have a lot of opportunity to get trade-ins. reporter: good time for the dealer, neil.

if you need a car, you need a car. people are flocking whether they're new or used they're buying them. neil: makes sense. that is another reminder of a strong economy. we forget, anecdotally, statistically we're seeing examples that is the latest. grady trimble my friend, thanks for following all of that in napierville, illinois. meantime i don't want to rain on this parade, but taxes are going up. we don't know how soon or for how many but we know increasingly looking like not just the rich. i will explain after this. ♪.

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>> whoever is flawing rated in january the american people will have to pay mr. reagan's bills. the budget will be squeezed. taxes will go up. and anyone who says they won't is not telling the truth to the american people. mr. reagan will raise taxes and so will i. he won't tell you. i just did.

neil: with that walter mondale lost every state in the country, save minnesota and the district of columbia. that was then in 1984 in their famous battle. the gipper trounced him. but say this about walter mondale, he leveled with the american people that he was going to raise taxes it doomed him. even colleagues in the democratic party those who want him elected say that sealed his fate. fast forward to now. joe biden well telegraphed he would raise taxes but would focus on the rich, it didn't hurt him. he got elected anyway. lessons there? sara westwood "washington examiner." jonathan hoenig will join us very shortly. sara, whether you're pro or anti-tax hikes, walter mondale had the nerve back in 84 to say that was going to happen. joe biden said the exact same thing, two very different results. what do you make of it?

>> that's right, neil. i think joe biden tried to convince most voters that the tax hikes he was proposing were not going to affect them. he said that it was not going to be on anyone making less than $400,000 a year. he said that he was really going to focus those tax hikes also on corporations but there is a lot of subtext there biden wasn't telling people, and the white house still is not being clear what exactly what kind of tax hikes they're proposing. they haven't said for example, whether those $400,000 in tax hikes are going to be applied to households or just to individuals? that is a huge difference. a lot of small businesses file their income on individual taxes. so that will also hurt small businesses. i think there is a real story to be told how corporate tax hikes and how those high individual tax hikes are going to affect everyday people in the form of job losses, in the form of wage losses, and other things that biden really avoided talking about on the campaign trail.

that the white house is now avoiding talking about right now. neil: i think, you know, sara, that is a brilliant distinction by the way. one of the things i found interesting, bill clinton when he was running for president in 1992, he promised taxes were going up on the rich but he promised a middle tax cut never panned out. after the election. can't do it. i had a chance to look at the books, can't do it. he maybe learned from the walter mondale experience do not tell everybody that everybody's taxes are going up, right? >> biden has been highly critical of the trump era tax cuts that did affect most americans. he hasn't given a straight answer whether democrats want to repeal those. that would in effect be a tax hike on everyday americans that might be something the democrats want to pursue. those were broadly popular when they were finally took effect but biden has been proposing a lot of spending even the revenue raised by the proposals he put

so far it might not cover. this is a hole in the budget biden is creating. right now democrats and republicans are trying to walk back the proposed corporate tax rate hike that he is proposed. and so that would mean that perhaps he would have to take even more of that spending off the table because it, he can't afford it with the revenue he will be generating. neil: you know, jonathan hoenig, real quickly, don't tell people you want to raise taxes in the middle of an economic boom. i think walter mondale realized that in '84. it might be problematic even now, what do you think? >> i wonder, neil, back then in mondale's era there was somewhat respect for the free markets, for great american corporations. now the belief, even among some on the right government spending is what creates wealth. the more government spends, the more wealth created. when you leave it to rich people and corporations they spend it on stock buybacks. there has been a real change in the philosophy, anti-capitalist

philosophy. joe biden is heading that up. that puts the economy writ large in a very precarious place. neil: got it. guys, thank you very, very much. we do remember walter mondale, 93 years old. a significant force, a change for vice president that started when he worked with jimmy carter, dead at 93. we'll have more. living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor,

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neil: all right. it's sort of like a good news/bad news day on, you know, the virus and what's happening. the good news, of course, is the great reopening in states going on across the country, in new jersey and in new york where they're talking about increasing capacity, eventually getting the arts back, broadway shows resumed as soon as this fall. no guarantees here, but the trend is the trend. the flip side is, the bad news, well, if you're eager to hop on a plane and travel particularly abroad, good luck with that. state department out with a series of recommendations that 80% of the countries on this planet they wouldn't recommend going to. united kingdom, pretty much all of south america, about half of africa, virtually the entire continent of europe, russia and on and on we go. ashley weber the to balance it out on where things stand with the great reopening. hey, ashley are.

ashley: hey, neil. it'd be easier to tell people where they can fly. look, flying overseas is getting harder, it seems, by the minute to do even though, as you say, the u.s. economy is starting to reopen. the state department as we just saw on that map expanding its do not travel advisory to about 80% of countries worldwide as covid cases are starting to spike again in some parts of the world. what does that mean? it means close to 130 countries are now on the no-go list. "the washington post" reports that the state department is strongly recommending u.s. citizens reconsider all travel abroad and postpone their trips, if possible. now, earlier this month, confusingly, the cdc said people who are fully vaccinated against the virus can safely travel at low risk. but now cdc director rochelle walensky is urging americans not to do so saying patience is the key. take a listen. >> this is an interplay between how many people are vaccinated

and how much disease is out there. while we're making extraordinary strides in the number of people vaccinated, we still have an extraordinary amount of disease out there, so i think that interplay is one we need to consider here. we know these vaccines work extraordinarily well as prevention interventions. however, they take some time to kick in. ashley: well, there you go, take some time to kick in. mt. meantime, friend -- in the meantime, french president macron says travel restrictions for vaccinated americans will be progressively lifted from the beginning of may. may caron suggest -- macron suggests u.s. travelers will need to be vaccinated and also have some sort of special pass to travel, but he didn't elaborate on the details. it is good news for industry professionals hoping to attend the cannes film festival. it is scheduled to run from july 6th-17th, organizers are hopeful that the event will take place as planned. mr. macron, by the way, expected

to provide a reopening plan in the next week or so. neil. neil: i like the way you pronounce macron. you gave it a lot of extra french oomph there. ashley: that's all i've got. [laughter] neil: thank you very much, ashley. you're the best. all right. i cannot match that french pronouncing genius. i bet erin gibbs can, mitch roschelle, microtrends founding partner. thank you for coming today. erin, it is interesting that, you know, we're doing just fine with these reopenings and certainly vaccinations. there are states, you know, that are having some stubborn problems, new jersey among them where i am, with but the fact of the matter is we're doing a heck of a lot better than i think any other country on the planet because we've already written off about 80% of those countries

to travel to for the time being. what do you make of all that? >> yeah. when you look at how well the vaccine was distributed and also just, you know, in particular the u.s. just happened to get a little luckier with getting the pfizer and the moderna vaccines which have had the least problems out first with with the most production in the u.s. and the least production problems, it's impressive how well these two companies have done for the reopening. and, you know, we're really going to see -- we're looking at more domestic travel for quite some time. neil: you know, mitch, i think she's exactly right. i think the emphasis will be on domestic travel. i should stress we were checking this, the state department advisory is not an order. in other words, by keeping the united kingdom, ireland, norway, denmark, some of these other countries on that list, it does not mean you can't do governor

there, they're just recommending. -- mean you can't go there. what do you make of the global economic impact? >> i think it's significant, or neil. just hook at it domestically, and this is information and data from the airline industry themselves, so maybe a little self-serving, but they say the size of the airline industry if you look at all of the industries related is 1.7 trillion employing 10 million people. so you extrapolate that across the world, tourism and travel is very vital to many countries' economies, and it's certainly vital to ours. i think once you start imposing restrictions and in some places they're probably stronger restrictions than other countries, i think you're curtailing economic growth. i wouldn't say our country relies exclusively on tourism and travel, but there are some

countries that do. and the hole they're finding themselves dug in may take a generation to dig out of. neil: you know, erin, when you think about it, almost everything else looks boffo, right? what's happening on housing, nothing short of a boom. in our last hour we were hearing about bidding wars even in high-tax areas, high real estate tax areas going for houses where people or buyers are forgoing appraisals just to land the house that they want to get. the earnings, the corporate earnings, i know we're very early in the season on this, but 30% or more of them have handily beaten expectations by margins we have not seen in decades. so all that's good. the virus-related travel, you know, restrictions not so good. how do you see this playing out? >> well, it's interesting, when you look at sort of the travel areas and the travel industry, so, you know, breaking out between the airlines, the

cruises, most of the travel industry, wall street expects it to be at simple profit levels by 2023. so hotels are going to be expected to eke out a very small profit this year, but airlines still have losses. and it's really just the cause ships thatn't -- cruise ships that aren't expecting to return until 2025, and then wall street just gives up expecting profits. so it looks like it's going to take about two years. restaurants are already sort of back in business because, obviously, that's not so focused on travel, but, you know, it's just about getting out and opening up the economy. and so then the industries that are more related to traveling further abroad take a little longer to recover. but really everybody's pretty much onboard that 2023 you should see similar profits to what we had in 2019. neil: a long time to wait for

that, if you think about it. erin, thank you. mitch, thank you. we'll be seeing you a little bit later. want to go to andrew levy, he runs an airline, and they have a novel concept where they seek out the smaller, middle-sized airports in cities that the big boys have largely abandoned. andrew, very good to have you. can you explain what your airline is about? i probably oversimplified it, but what is your strategy? >> yeah. thanks for having me, neil. no, i think you said it pretty well. we're starting out next wednesday, actually, is our first flight and our first base is going to be in burbank, california, which is l.a. county and is a terrific example of an airport that we're going to be focused on as we expand our business. burbank is convenient, close to a lot of people, it's in the shadow of lax which is far larger of an airport, but we're

just trying, we're trying to build an airline that's about offering choice to consumers serving underused or less used airports in metro areas. burbank is about -- year and a half ago wouldn't have met that definition because burbank is pretty crowded usually, but that's an opportunity that arose with the pandemic, and we're taking advantage of that. neil: are you primarily then focusing on the western part of the united states, or that is the region from which flights will take off? >> we're starting out in burbank, neil. we expect to build points of presence or little bases in different parts of the united states. we're starting in burbank because the opportunity was there. and in and out of burbank, our target is going to be short haul markets, so our longest length is about a two and a half hour journey, on average a little less than two hours. so these are all west of the rockies, 11 markets none of which have service today from

burbank in different points of the western u.s. neil: you know what caught my attention, andrew, not so much your teaser fares to start flying, but the fact that you don't charge an arm and a leg even for first bags, $10, that sort of thing. >> right. neil: that, you know, caught my attention, i'm sure many others. i mean, so your whole package built around the idea that you won't pay through the nose, there won't be all these secret add-on fees that will be excessive. is that part of your strategy? >> look, we're a low fare, every day low fare airline. so our airline is about being able to stimulate demand with low price points, and we want our customers to look at us as everyday great value. our checked bag fee is very low, we are trying to be as transparent as possible about what you're buying when you come to our web site, and you can only buy avelo when you come to our web site.

you know, we don't distribute through other parties, and that's part of the reason. we want to make sure our customers know what's included, what's not included. and they have a choice to come to our web site and value the things they value whether it's a checked bag or a carry-on bag, a roller bag, we charge more for that. if you want an assignment, there's a fee, if not, we assign it to you the day of travel. our whole business plan is about low fares but also convenience in terms of just making it easy to use us whether it's in terms of how we price for things or just back to the airport. that's a big focus of ours, the ease of using a nice, simple, small airport. in in this case burbank being our first one, but that's our focus. so everyday low value, saving time but also save you money. neil: all right. what about the infamous middle seat? will that be occupied? [laughter] >> the middle seat will be

occupied. yeah, look, you know, i was listening to the show before i came on, and i heard, you know, some of the story about the pandemic and, obviously, look, we're still in the middle of a pandemic. i think we see the light at the end of the tunnel. there's a lot of reason to be optimistic. but not having the full airplane sold for our business just does not work. and i think more and more customers are really comfortable, they feel safe getting on airplanes whether it's because, whether it's because they're tired of covid or, more importantly, probably because many more people are getting vaccinated by the day, and there's a level of immunity that's out there. yeah, no, our business model clearly doesn't work if we just sell two-thirds of the seats on the airplane. the $19 fare you mentioned, we're going to offer great everyday low fares. that is kind of an introductory offer only. that's a fare -- you can't make profits with those types of fares, so we expect our fares to be higher over time. we are looking to fill up the

airplanes with everyday low fares, and that's how the model works, and we expect, we expect this summer to be a terrific time to start, so we're really excited about getting going. neil: all right. we're watching closely. what i find amazing is you're very honest. all clear. you don't like it, you don't have to buy it, but you make it all very, very obvious what you're getting into and what potential flyers are getting into, and so far judging from early demand, they're getting into it. please keep us posted, andrew, and best of luck. >> thanks very much. neil: avelo chairman and ceo. you could drive a 757 through this opening in the market, and he is doing just that. all right. when we come back, i want you to meet the democratic new jersey mayor whose schools were supposed to reopen, and then suddenly they are not. he's furious. and he's here. ♪ what a feeling, keep believing.

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i max desktop, something they're referring to as air tag. the reason why we didn't mention the in the context of the market is apple is much bigger than a technology marriage it's often times a barometer for retail and whether people pay a lot more goods. not that apple finish all of their products are expensive. they're pricey. mitch rochelle with us now, mitch, how closely do you look at an apple and us products and demand for those products especially now as we come out of this pandemic? although it did quite nicely during the pan dem oric. -- pandemic. what do you think? >> other than the fact that they're launching a new desktop and i bought the latest one, like, two weeks ago -- [laughter] my timing is always terrible. neil: you and me both. you and me both. >> i never get that right. but the fact of the matter is i think if you look at the last year or so, we rely very heavily

on technology, and i think whether it be hardware/software, they did really well because that's what got us through this. but the fact of the matter is, you know, you saw an upgrade about a week or so ago from ubs on apple because they are a barometer for the consumer, and the consumer has $2 trillion if you lock at the highest estimate -- look at the highest estimate of excess savings over the last year or so, and they want to puppet that out there. nobody wants to have, you know, life as it's been forever, and i think retail therapy is a big part of it. you saw, you know, last month with the retail sales, and i think big ticket consumer items from cars, homes to furniture and then to computers, so it certainly makes sense. and i think, you know, apple's going to be one of the winners in the consider side of the equation. consumer side of the equation. neil: mitch, thank you very muchment we know for sure all the products it's introducing,

we'll pass that along. many see this as sort of a preview to, obviously, a new iphone slated for next fall and some of the more weightier announcements. in the meantime the, i want to reintroduce you to a guest who's been a favorite on this show because he speaks his own mind. mayor steve bolt is the democratic mayor of jersey city, new jersey, beautiful neck of the woods, by the way. but he, you know, takes on, works with all comers. and when he heard that a lot of jersey city public schools had been reversing plans to reopen schools, he was not pleased one bit. the mayor kind enough to join us right now. mayor, good to see you again. thank you. >> thank you for having me. good to see you as well. neil: so what happened here, mayor? everything was on to reopen schools, and then they reversed that. i'm not sure of the details. >> yeah. neil: what happened? >> yeah. i mean, we're the largest school district in new jersey. the superintendent told parents and school district that we'd be

reopening this week and then abruptly on sunday he said that he didn't have the teachers to reopening in a robocall. needless to say, a lot of parents, myself, a lot of teachers even are very upset about the reversal here. and he said that we're not going to open til september now, so we're trying to correct that. it's disheartening. neil: all right. what happened? sounds like he was attempting to and then couldn't get enough teachers to go back. what was the issue with the teachers? >> you know, i think there's two fundamental questions. i mean, the first is that, you know, he said that, you know, 500 teachers called out sick, and that wouldn't work with regards to replacements. the teachers union pushed back and said there was still 3300 teachers that were willing to come to work. the second question is, you know, the district took substantial dollars, tens of millions of dollars in federal aid under the pretense that they would reopen and prepare the schools, and it begs a lot of questions about what did they do over the last year. neil: so i'm just wondering

whether -- i don't want to be cynical about it, mayor, whether they're just trying to run out the clock. there isn't much time left in the school year. next fall might be another matter, you hope, but do you think that was at play here? i've seen this play out in other school districts and other regions of the country. >> no, look, for me, it's important to open even with two months left. you see mental health deterioration from kids and, you know, the thing about, you know, the democratic party is that we trieded advocate for the most vulnerable and the least fortunate. and this closing schools, the population that it hurts the most, the rees fortunate, the economically challenged. even for two months it could make a meaningful difference for those kids to get back to some sort of in-person learning, and it's unfortunate that our school districts are not going to open. neil: this affects you as a parent as well. i mean, i guess the plans were set for monday for this to happen, and it's not. >> my kids are still too little

to go to school, so for me, it doesn't affect me personally, but, you know, i see hundreds upon hundreds of parents that it does impact. they may have a plan to have their children go back to school x those plans were reversed just because teachers didn't show up. it's really disheartennenning, it's a big challenge for the city and, hopefullying, we can get them to change course. neil: you know, this all happens with the backdrop of new jersey governor phil murphy still, you know, cautious about easing restrictions in the case because while things have improved, not to the point that the you can robustly go about reopening things. i'm overly simplifying, but what do you think of his stance of what some critics have said has been a grudging reopening in the garden state? >> yeah, look, i mean, the governor definitely has been cautious, but it's worked out well, and i think overall are supportive of the job he's done. you know, no governor's been

perfect. it's impossible to kind of figure out how this is going to move. but, you know, up til now people have been supportive. i suspect that's going to start to open up a little bit wider in the near term, and we'll see people also react favorably to that, because i think people are clamoring just to get back to normal. neil: all right. mayor, thank you very much. doesn't look very promising for the rest of the school year, but steve fulop on that. we did mention the fact that apple is announcing a variety of new products today, and it's testing the waters to see how much consumers can get into this. we're going to have susan li here to outline what some of the goodies are and whether you're open to buying them, after this. ♪ walk this way, talk this way. ♪ walk this way, talk this way ♪♪ ♪♪

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neil: all right, we are following the great covid coming out, if you will, and, you know, issues of vaccines and all to deal with this. we've got dr. kevin campbell, a cardiologist, on how we're doing in this. you know, doctor, all of this comes at a time the state department is putting out guidelines on restricting travel to virtually 8 out of 10 countries on this planet. so me thinks that some of the medical experts are getting to government agencies, state department and others to say go slow on this travel thing. do you agree with that? >> you know, i think as we continue to vaccinate, we need to loosen these restrictions. you know, if we truly are now with 84 million americans vaccinated, that's almost half of everyone, 80% of those who are over 65, i think it's time to start thinking about, you know, moving on to the next phases.

i think we have become a society of overreaction at this point with some of the ongoing restrictions. neil: you know, so many americans have at least had one vaccine dose, i believe it's up to 200 million, doctor, you'd know better than i, but i am a little surprised even though the numbers are quite small that a little bit more than 6,000 americans have gotten the virus even after getting vaccines. what would cause that? i know it's very i infinitesimal in the scheme of things, but should we worrisome. >> i think when you compare to things like the flu vaccine, a good year means we got it right so that about it's about 60 or 65% effective. here, i think we have a vaccine that's far more americans. out of 84 million americans who have gotten the vaccine, 6,000

have gotten the virus. i think actually this vaccine is quite effective. and with this data we don't even know for sure if these people died from covid or if they were in the hospital and got tested positive for covid. we don't know exactly what these numbers mean. neil: did it happen after the period of time which the vaccine gains traction and it's supposed to prevent this, or were these anomalies where even after that period in which you're supposedly bulletproof you're not? >> you know, they didn't release the details of the data with respect to that, and that's a very good point. because it does take 10-14 days at a minimum to develop a robust immunity after that ennext. and as -- injection. and as you know, during the two-shot series, after the first shot you're in the high 80s, low 90s, and after the second shot you move up towards the mid to high 90s if in terms of preventing you from getting covid. so i think that is also a bit

murky. but remember, they're looking at these numbers, and if you torture the data long enough, it can attest to anything. neil: being a cardiologist by trading which is one of the most difficult doctors, advanced training that you need, i wonder what you make of the health of americans coming out of this. we're told -- not me, doctor, not me -- [laughter] but we're told that some people gained weight, a lot of weight, during this period and ate all the wrong things. that's just what i hear, doctor, it's an alien concept to me, but what do you make of that and our health coming out of this? >> i see patients in the office every day that are developing type ii diabetes, that are obese, developing hypertension. and i think we weren't doing the things that we should do because of the lockdown. we were replacing social events with cookies and cakes, i guess, so i do worry about our health

as americans. and i think we've got to redouble our efforts. and cardiologists, general internists or as americans in general to really focus on preventing these diseases by managing our body weight. neil: i've heard that's very important, and i've asked you this question with my if stomach tucked in the entire time, doctor, so thank you for those reminders. you do a lot of good and give us a lot of good advice. dr. kevin campbell, thank you, sir. all right, want to go to susan li right now. she's been seeing these new offerings from apple. i know these debt -- get a great deal of attention because apple maybe is a barometer on retail sales in general in this country. susan: yeah. and also the consumer as well. the first apple event of the year, neil -- i'm sucking in my stomach right now because it's so exciting. as always, it kicks off can with ceo tim cook. >> after the challenges of this past year, we're optimistic that brighter days are just in front of us.

as we move forward, we feel it's important that apple continues to make a difference in people's lives through our products and our values. susan: so lovely outdoor shots there of the apple headquarters. and we've gone through a lot of product, already halfway through. as you see, the i mac right now, that is' the desktop -- that's the desktop computer. as you know, steve jobs wanted end to end control of all apple products, and that means building the components that go inside as well. air tag, one of the exciting announcements that when you lose your keys -- oh, there it is on the screen. this is has been awaited for a long time. of this'll help you find your bags, your keys. $25, four for $99, it and comes in rich hermes shades as well. also the tracking on the map, part of the collaboration with the software as well. other announcements including the apple tv 4k, comes with a

very fat, bionic chip. very clear in the picture quality. 179-199 which will ship closer to the end of may. other smaller announcements that they made, that includes the apple card, now it can be used across the entire family, partners and spouses. also a podcast channel, not exactly a subscription service that was announced, i didn't hear that, so that might have been a little bit of a disappointment when it comes to services, but now the iphone 12 and mini come in purple which might match your tie some days, or neil. but we're waiting for that ipad pro, and most people are anticipating some sort of tablet announcement. there's been a resurgence when it comes to sales on ipads, the best year in six years last year because people are remote and schooling from home, so they're buying these tablets. neil: that makes sense. you think about it, an ipad today is doing what a lot of

laptops were supposed to do and even more so today. so that does make sense. susan, thank you very much for that. susan li following all these developments. the dow with all of this still down about 325 points right now. we're going to explore that a little bit more in detail. interest rates, they're holding their own, and this despite earnings that had been off the charts, far, far better than expected, but this could also be an excuse to sell. a lot of people have made a lot of money. after this. ♪♪

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♪ neil: all right, the jury continues to deliberate in the derek chauvin trial, second day running right now. it all started at 8:30 this morning. again, they're still sort of putting things together here. we have no idea how long this will go on, but we do know steve harrigan has been following developments very closely.

the community -- actually, the entire nation, when you think about it, ahead of this jury decision. steve's in minneapolis right now. >> reporter: neil, this city certainly prepared for trouble. everywhere you look there are concrete barriers it up, metal fences set up and around windows and doors of most businesses, they have already put up plywood to try to keep that safe from violence. what they're trying to avoid here is a repeat of what happened one year ago when george floyd died. $350 million worth of damage. some buildings like police stations even taken over and burned. now, the president weighed in on this case after the jury was sequesteredded. he talked to the floyd family. >> -- kind of a silver lining with what's been happening. [inaudible conversations] >> reporter: even the schools will be closed on wednesday, they'll go to remote learning to try to prevent any outbreaks of violence from affecting children

going back and forth to school. of course, the verdict could come at any time. 12 jurors, 6 wall street, 4 plaque -- 6 white, 4 black, 2 multiracial, but if the verdict comes out at night, they're likely to delay the announcement until the morning hours to limit the possibility of violence. back to you. neil: thank you very much, steve harrigan, in minneapolis. when we get any word, of course, we'll pass that along. in the men time, venn know -- venmo is getting into the crypto game. on that site now you too can buy and sell crypto-related technologies. is that a good thing or a bad thing? charlie gasparino, after this. ♪ you had me underrated. ♪ what's wrong being, what's wrongl with -- like jack.

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♪ neil: all right, if you've ever used venmo to pay back a friend or whatever, you know, your own transactions here, now you can buy and sell currencies with venmo promising that. charlie gasparino on this latest wrinkle in what has been a busy time for all these technologies. hey, charlie. >> hey, neil.

let's put bitcoin and crypto currencies into context right now. the municipal bond market has been around since you were born in the late 1800s, right? neil: thank you. [laughter] >> it's a $4 trillion market. the crypto business has been around for about two years, okay? it's a $2 trillion market. that's the growth of cryptocurrencies right now. it's astounding. neil: -- look at it. >> it's just a astounding. it's, literally just occurred over the last two or three years. it's caught the eye of the biden administration. it's because it's gaining widespread acceptance as you talked about venmo, but i can tell you that mainstream hedge fund investors, i know a lot of them, bold-faced names are in this business, are buying this stuff. they think between the bitcoin and its, it's much more of a commodity than some of the others, but the blockchain technology which offers you potential for seamless

transactions, there's something going on here. the one fly in the ointment, i think, that could stop the party here, what investors believe could stop the party is the prospect of regulation. the biden administration if, particularly the treasury department -- and that's who's heading the major oversight into this, janet yellen, treasury secretary, believes cryptocurrencies are used way too much for illegal activities spanning the globe. whether it's, you know, russian disinformation networks, other drug transactions, they believe there's a lot of bad stuff going on. there's obviously going to be some regulatory effect here that's going forward. we just don't know what it is. so here's what i've been doing, i've been talking to major crypto investors. there was a huge selloff over the weekend. they said that was a combination of worry about this regulation that's coming down the pike plus some really overleveraged

sellers in china and here, so it kind of exaggerated the price declines. major investors have been talking to treasury department officials and former treasury department officials just to get some gauge on the bureaucracy, aside from what the policymakers like yellen think. they don't believe there's much appetite for something draconian like an outright ban that you see some countries ebb acting right now. -- enacting right now. that doesn't mean there's not a lot of other stuff that can't be done. again, the volatility in the prices had to do a lot with these sort of fears of regular ration and overlev -- regulation. and overleveraged. apparently, people in the crypto market are overleveraged in their positions, and once you get something like that if there is a correction, remember, it could be violent. just something to keep in mind. i know we're up today, it's coming off its lows over the weekend. but this, this asset could be very volatile depending on any

bad news because there is leverage in the system, neil. back to you. neil: thank you, my friend, very much. want to go to mitch roschelle on this. mitch, you think about it here, we might be at a point where the train has left the station, genie's out of the bottle. it might be too late to do this. what do you think? >> you know, it's interesting, and i just had a back and forth with charlie during the break over twitter, if you look at the whole ecosystem of cryptocurrencies, they were created because there was inherent distrust with central banks and the ability of central banks to print money which we're seeing right now around the world. so it'll be very interesting how the financial anarchists, and use that word somewhat tongue in cheek, feel about being regulated. it's not up to them as charlie said on twitter, but the fact of the matter is i think regulators are going to step in. you see some draconian moves in other countries with outright bans on cryptocurrency, but i

think it's the frequency of it and the sheer growth and size that i think a regulatory body's going to step in and do something, and we're probably going to see it very soon. neil: all right. that could lead to a market selloff way beyond this, right? >> 100%, because i think a lot of the money that's playing it is plague it because they like -- playing it because they like the freedom. and once you start imposing restrictions, you're not going to see that upward trajectory. neil: a lot of wall street names are involved in that, so you take the toys away from them, it will probably be a very childish reaction. thank you, my friend, very much. we have a lot more including the latest on what's happening on mars. out of this world. ♪ ♪ ♪ ♪ (upbeat music) ♪ ♪

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neil: all right, if you think just because i was out yesterday and would allow david asman to talk about ingenuity helicopter on mars, leave it at that think again. i'm not letting go of this. i'm just stunned amazed by it. the fellow behind it, this payload systems ingather on the nasa mars 2020 project. you're to be commended. >> you and your team what you accomplished here. it is just mind-blowing but now what happens with this?

what's the gameplan? >> neil, thanks so much for having me again. yesterday it was successfully flu the first rotor craft powered vehicle on the surface of mars. this will open up a whole new next generation of space exploration and exploring of mars because the rover cannot drive to center rain. so we can't go to the polar caps. having this rote to put craft air powered vehicle we can explore mars in a whole new way. this is an exciting engineering marvel for the that the team has accomplished. neil: what is next for the team to do, vishu. can you explain? >> ingenuity helicopter is technology driven demonstration. we have not flown a rote to put

craft on another planet. the reason the mars is 1% of atmosphere of earth. mars is very harsh. the temperature at night gets to 90, 100 c. it is a harsh environment. given all the extremes we accomplished and proven we can fly a helicopter on mars. so for the upcoming days, the next two weeks the team is going to attempt to do more flights so. the first flight we took off, hovered three meter altitude, did a small turn and came back down. so the next flight will be more aggressive, more like so-called helicopter-like with the floor velocity. we'll take more images from ingenuity herself and we're just going to test out how the helicopter will perform in the martian at moss fear. we're -- atmosphere. we're excited to push the limits

of ingenuity in the coming week. neil: when you can do more withinger such devices, the applications are too many to list here but one easy thing would survey. more ever the martian surface than we've been ever able to do in the past, right? >> absolutely. if you look at here on earth, drones have become very popular. we're using drones for some different things like cinematography, exploring like agriculture, seeing how that is trending. so air powered vehicles opens up a new eye to basically us humans to explore any given, any given area or any field we're trying to explore. with having now that we could fly on mars, we're going to fly to regions we never attempted and future mission proposals are going to use this, we'll use this to find ways to study mars even better. of course this is going to teach us a lot of things how we operate a helicopter on another

planet so that application and things we learned can be transferred to a different planet like venus or titan or things like that. so it is really -- neil: incredible. it is exciting. you're a pioneer, thank you very much. to you and your incredible team. the payload systems engineer. our stock system engineer, charlie payne right now. hey, charles. charles: i love that transition. great seeing you my friend. good afternoon, everyone, i'm charles payne this is making money. breaking right now, looks like the dam has broken. weakening underlying internals finally tripped up this market sending all the major equities lower what happens when all the money turns down and nothing seems to be working? hide out if blue-chips, buy the weakness or waste for the dust to settle? we have insight you need on this show right now. another day, another wall street elite taking on crypto, and